Who is Gustavo Arnal, CFO of Bed, Bath and Beyond?

(CNN Spanish) – The New York City Police Department has identified the man who jumped from a high-rise apartment in Manhattan on Friday as Gustavo Arnal.

Arnal was found unconscious and unresponsive outside his luxurious 57-story skyscraper in the Tribeca neighborhood around 12:30 p.m. Friday, police said in a statement Sunday.

Police added that the man “appears to have injuries that indicate a fall from a heightened position.”

A police source told CNN that the executive died after he jumped from the balcony of his 18th-floor apartment. The source also said that Arnal’s wife saw him jump, adding that although no suicide note was found, there was no crime.

Who is Gustavo Arnal?

  • Arnal was a senior manager at Bed Bath & Beyond (BBBY).
  • Specifically, he has served as the Company’s Chief Financial Officer (CFO) since May 2020. He was also the Executive Vice President of the company.
  • He was 52 years old.
  • His responsibilities at BBBY included mergers and acquisitions, controls, taxation, accounting, treasury, audit, and investor relations.
  • Arnal joined the BBBY team from Avon, “where he helped lead a successful business transformation effort,” according to the BBBY website.
  • Prior to Avon, Arnal was the CFO of the international divisions and global jobs at Walgreens Boots Alliance.
  • He also has experience with Procter & Gamble, where he held the position of Chief Financial Officer in various areas of the company.
  • “Arnal has a degree in mechanical engineering from Simón Bolívar University and a master’s degree in finance from the University of Metropolitan, according to his profile on the BBBY website. Both schools are located in Venezuela.
  • BBBY highlighted that Arnal was instrumental in guiding the company during the covid-19 pandemic, “transforming the company’s financial base and creating a strong and talented team.”
  • Arnal was recently named as a defendant in a class action lawsuit accusing him, Ryan Cohen and other large shareholders of participating in a scheme to artificially inflate BBBY’s stock price.
  • The suit was filed August 23 in the United States District Court for the District of Columbia.

Corporate message after Arnal’s death

“I would like to extend my sincerest condolences to Gustavo’s family,” Harriet Edelman, independent chair of Bed Bath and Beyond, said in a statement Sunday.

“We are focused on supporting his family and team and our thoughts are with them during this sad and difficult time. Please join us in respecting the family’s privacy.”

The statement said Arnal has joined Bed Bath & Beyond Inc. in May 2020 after working in finance at Avon, Walgreens Boots Alliance and Procter & Gamble.

Edelman said Arnal “has been instrumental in guiding the organization through the coronavirus pandemic, transforming the company’s financial foundation and building a strong and talented team. He has also been a respected fellow in the financial community.”

CNN reported this week that Bed Bath & Beyond is in deep crisis. The company is trying to save itself and stay out of bankruptcy by deflation. The chain said Wednesday that it will lay off about 20% of its corporate staff, close about 150 stores and cut many indoor household goods brands. The company also said it had secured more than $500 million in funding to support its financial problems.

How do I get help: In the United States, call the National Suicide Prevention Lifeline at 1-800-273-8255 or 988 as of July 16, 2022. The International Suicide Prevention Association and loved ones around the world can also provide information on call crisis centers around the world.

With reporting from Bryn Gingras, Liam Riley, Ramisha Maarouf, and Samantha Beach, on CNN.

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